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and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the near-term economic future of the country, people are going to rise above and do the right thing. and i think the republicans, frankly, are going to have to accept some tax increases. the wealthy are going to have to accept some tax increases, even if only temporary. but on the other side, there's got to be massive spending cuts and entitlement programs, because you can't have the -- a minor revenue increase without a decrease in spending. and then again, my favorite solution would be a temporary national sales tax, and a federal fuel tax
and tax increases. >> yeah. speaking of which, bob, at least over the weekend, it looks like the white house has moved their piece, and they are not going to move again until the republicans table something. how do you see these things going down? we've got three weeks to play with here before everybody really does leave for the holidays. are you optimistic? >> i'm optimistic by nature. and i have a feeling that when the economic future of the country is at stake or at least the...
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it's a tax on show business. >> you have a very different opinion than i do. my attitude is the business is better if all of them were gone. >> really? >> press a button tomorrow and press them down a swirling sewer vortex, i would do it. where's the button? hand it to me now. >> what if they said -- >> somebody on the crew is laughing. >> no more publicity in any newspaper or magazine for anything you do. >> that's not practical. people you will have publicity. listen. i'm not opposed to even though i'm not ecstatic about the entertainment journalism that's out there and cheapens show business and demystifies show business and the once you typically call a gotcha journalism, that's one i think we can all do without. >> mike tyson had a good way of resolving somebody. he said, a photographer at lax. what was the fallout? paparazzi are really good to me. really? let me give them a right hook. let's talk about more cheerful matters. "saturday night live." you've done 16 of these. you're the king of "snl." i want to talk to the king. ericans believe they should b
it's a tax on show business. >> you have a very different opinion than i do. my attitude is the business is better if all of them were gone. >> really? >> press a button tomorrow and press them down a swirling sewer vortex, i would do it. where's the button? hand it to me now. >> what if they said -- >> somebody on the crew is laughing. >> no more publicity in any newspaper or magazine for anything you do. >> that's not practical. people you will have...
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Nov 29, 2012
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or taxes might be taxed. and there is a principle involved. is there a principle or bloody minded news. we shall not pay anymore taxes ever. >> at some point there is just too much tax. we are a long way from that. let's look at earned income tax. they are lower now. all president obama is doing is saying let's go from 35% to 39.6% the same as it was under president clinton the economy did very well and it is more than just a drop in the bucket. just raising rates on people making over $250,000 would be a trillion dollar over the next ten years. >> $1 trillion is not to be sniffed at. some broke with the leadership and urged his party to extend the tax cuts to ensure that their taxes don't go up. he has a point there. who cares. >> sure, there is a point in there, i might dispute the numbers. i would argue, as the members of my party, that we have a spending problem as opposed to a revenue problem to my friend steve's remark about the clinton tax rates that sounds great to go back to 39%. but, actually, those
or taxes might be taxed. and there is a principle involved. is there a principle or bloody minded news. we shall not pay anymore taxes ever. >> at some point there is just too much tax. we are a long way from that. let's look at earned income tax. they are lower now. all president obama is doing is saying let's go from 35% to 39.6% the same as it was under president clinton the economy did very well and it is more than just a drop in the bucket. just raising rates on people making over...
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first, when i was there, it was the president who had made the no tax pledge. president bush the first, as you'll recall, made a very famous no tax pledge which he eventually backed off of. in this case, it's the congress. the republicans in the congress specifically, who have made the tax pledge, and the president who is trying to get them to break it. secondly, the numbers are very much reflecting the passage of time. we were very concerned because we thought the budget was going to be -- the deficit was going to be about $150 billion. that shocked everyone into action. then, unlike now, there remains some degree of bipartisanship. there was comity, there was discussion, even as we battled over the budget, we worked together in a bipartisan way on many other issues. you didn't have the total polarization that you have today. >> i mean, when you were elected senate majority leader, i understand one of the first people that you called was the minority leader, senator dole. >> that's right. i called him right away, i went to see him almost immediately, and i sai
first, when i was there, it was the president who had made the no tax pledge. president bush the first, as you'll recall, made a very famous no tax pledge which he eventually backed off of. in this case, it's the congress. the republicans in the congress specifically, who have made the tax pledge, and the president who is trying to get them to break it. secondly, the numbers are very much reflecting the passage of time. we were very concerned because we thought the budget was going to be -- the...
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no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. side by side so you get the same coverage, often for less. that's one smart board. what else does it do, reverse gravity? [ laughs ] [ laughs ] [ whooshing ] tell me about it. why am i not going anywhere? you don't believe hard enough. a smarter way to shop around. now that's progressive. call or click today. [ grunting ] >> breaking news our boston here. two trolleys that have collided. we're just getting information and details now. six people are injured. 20 are being evacuated for potential injuries. this is video of the scene here. this in the area of park and tremont. my old stomping grounds. went to college in the boston yar. the transportation authority saying that this took
no, it's worse -- look, our taxes are about to go up. not the taxes on our dividends though, right? that's a big part of our retirement. oh, no, it's dividends, too. the rate on our dividends would more than double. but we depend on our dividends to help pay our bills. we worked hard to save. well, the president and congress have got to work together to stop this dividend tax hike. before it's too late. side by side so you get the same coverage, often for less. that's one smart board. what else...
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those bush era tax cuts should not extend for them. republicans believing that all americans should benefit from those tax cuts, and that now you should put en titlements on the table. of as we see, the officials from the white house going up to capitol hill today, treasury secretary timothy geithner, to try to hammer out some deals. still, both sides far apart. >> well, i want to talk about that a little bit. there was an article on politico.com this morning that said the two sides are farther along with a deal than we know. and that all of this stuff that you're hearing out in the public view is just posturing. what are you hearing, dan? >> reporter: well, you know, we certainly -- i think everyone hopes so, that they are closer to a teal. what you're hearing is some people are optimistic, including the president, saying he's optimistic this can get done, even before christmas. but then you have others stepping up saying both sides are far apart, and very pessimistic this can get done. as i stated, there's still some very strong view
those bush era tax cuts should not extend for them. republicans believing that all americans should benefit from those tax cuts, and that now you should put en titlements on the table. of as we see, the officials from the white house going up to capitol hill today, treasury secretary timothy geithner, to try to hammer out some deals. still, both sides far apart. >> well, i want to talk about that a little bit. there was an article on politico.com this morning that said the two sides are...
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we are talking about reforming the tax code, raisinging tax rates. that's the only thing i say that i absolutely will not do. 258 members of congress, republicans all, have taken the pledge. only six are waffling. we're standing strong on that point. >> do you think that's a pledge with grover norquist, with your constituents? there are others saying they have room around the pledge. >> well, that's a great question you just asked me. is that a pledge to my constituents. absolutely. in 2002 -- and i was running in a tough primary and those folks back in marietta, georgia, said, phil, are you going to take the grover norquist, americans for tax reform pledge. i said, yes, i will take it. many would have voted for my opponent. that plenl, i honor that. it's a pledge to my constituents. absolutely. >> all right. you say your constituents don't want you to raise taxes on the rich. let me show you what an abc/washington post poll shows. 60% would support raising taxes on incomes over $250,000 per year. you wouldn't do that? >> i understand that their perc
we are talking about reforming the tax code, raisinging tax rates. that's the only thing i say that i absolutely will not do. 258 members of congress, republicans all, have taken the pledge. only six are waffling. we're standing strong on that point. >> do you think that's a pledge with grover norquist, with your constituents? there are others saying they have room around the pledge. >> well, that's a great question you just asked me. is that a pledge to my constituents. absolutely....
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let's start with the no new tax pledge. a number of top republicans have come out saying they'll turn their back on the pledge if it gets a deal done on the fiscal cliff. >> i think a lot of people made the pledge 20 years ago, 50 years ago and i think they realize we're in a very critical time for our country and this issue has to be dealt with. revenues needs to be a part of the component and entitlement reform, true entitlement reform has to be there also in order for us to put this in the rear view mirror. >> that's a big change. so what would the former republican party flag bearer say. >> change can't be measured in speeches. it's measured in results. >> that was mitt romney attacking president obama, but it works for his own party, too. now, let's move on to immigration. romney's deportation stands didn't sit well with a growing number of hispanic voters and now two retiring reporters are pushing their own version of the dream act. it gives children the path to citizenship. >> we're introducing this legislation, whic
let's start with the no new tax pledge. a number of top republicans have come out saying they'll turn their back on the pledge if it gets a deal done on the fiscal cliff. >> i think a lot of people made the pledge 20 years ago, 50 years ago and i think they realize we're in a very critical time for our country and this issue has to be dealt with. revenues needs to be a part of the component and entitlement reform, true entitlement reform has to be there also in order for us to put this in...
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taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think most economists would agree that there is often more advantages in capping deductions than in just going for the rates, but i think there's a real political advantage for democrats looking ahead to battle after battle that we'll face down the road in getting republicans to cross that red line. it's sort of a scout, you might say. >> thank you both very much. >>> the united states opposed today's u.n. vote on the palestinian observer state. senator bob menendez saying it could inflame passions throughout the region. welcome to you, senator. >> good to be with you. >> explain to me why you feel so strongly that the palestinians shouldn't have been granted today this nonmember observer state status. >> well, what we announ
taxes were going to go up across the board. we did what we could do and the president wouldn't let us do more. but i also think that president obama sees a real percentage for him in getting republicans to cross the line of agreeing to a rate increase. and that's why i think he's pushing so hard on this. i think most economists would agree that there is often more advantages in capping deductions than in just going for the rates, but i think there's a real political advantage for democrats...
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we cannot tax our way back to budget surpluses and economic prosperity. without major spending cuts and entitlement reform, we will continue running huge deficits regardless of what we do on the revenue side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be $850 billon a year would you do that? >> the president has said a lot of things, but what counts is what he's willing to put on the table and so far, he hasn't put medicare and social security, saving and preserving those entitlement programs on the table. i believe they have to be, because if we're going to preserve those for future generations, we need to do something meaningful on those. the problem is, erin, if we just do cuts in temporary spending, those can easily be undone. we know there's been a lot of promises made in exchange for tax increases and it never comes to pass when it comes to spending cuts. >> there was a "washington post" poll which said raise taxes on incomes over $250,000 a year, 60% support it. wh
we cannot tax our way back to budget surpluses and economic prosperity. without major spending cuts and entitlement reform, we will continue running huge deficits regardless of what we do on the revenue side. for every dollar of revenue you give him, he'll give you $2.50 of spending cuts. if he gave you that on spending cuts, it would be $850 billon a year would you do that? >> the president has said a lot of things, but what counts is what he's willing to put on the table and so far, he...
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to give a balanced plan, republicans have to cut taxes. >> he said i put revenue on the table. but he wouldn't talk about the rates. >> also when asked about these specific entitlement reforms, he didn't talk about those either. we need to see some substance behind that. >> did you hear level ground where that can be forged? i don't know the difference between talking about stuff and putting it on the table. it seems like senator cornyn sees some difference there. i don't really get it. the hole is not as big as he says it is. we're not going into the hole with a trillion dollar deficit every year, because we're going to grow every year and collect more revenue. and we also see some of these stimulus programs narrowing down a little bit so the hole's not that big and there seems to be more common ground that the senator admits. >> we hope you're right. >> in previous negotiations, it's been put forward but everyone's got to push forward. >> it's easy to race taxes on one group, at of people agree with that, but the bottom line is those entitlement cuts are going to be a lot mor
to give a balanced plan, republicans have to cut taxes. >> he said i put revenue on the table. but he wouldn't talk about the rates. >> also when asked about these specific entitlement reforms, he didn't talk about those either. we need to see some substance behind that. >> did you hear level ground where that can be forged? i don't know the difference between talking about stuff and putting it on the table. it seems like senator cornyn sees some difference there. i don't...
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that is 98% of the american people, getting about 80% of this tax cut shouldn't have their taxes raised. so my suggestion -- it was delivered, by the way, in private and leaked and put in public. but that's fine. i mean, it's certainly what i said. my suggestion was let's take the one area that we agree and take it off the table. >> and -- but just to be clear, though, you actually think -- because this is when i saw your comment what i was so curious about, just from a negotiating standpoint. we had the super committee that failed, now we have the fiscal cliff, right? and if those sorts of deadlines aren't enough to get a deal, if you actually were -- were going to break with your own party or say go ahead, we'll extend them for the middle class, do you actually think that you would be able to negotiate a deal where they didn't go up on the top 2% at the beginning of the year? >> you might be able to negotiate that deal. again, i think a lot of people misunderstand, you know, what's happening with the 98%. number one, i don't think you ever ought to use the american people as, quote, l
that is 98% of the american people, getting about 80% of this tax cut shouldn't have their taxes raised. so my suggestion -- it was delivered, by the way, in private and leaked and put in public. but that's fine. i mean, it's certainly what i said. my suggestion was let's take the one area that we agree and take it off the table. >> and -- but just to be clear, though, you actually think -- because this is when i saw your comment what i was so curious about, just from a negotiating...
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setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be
setting up a process for entitlement reform next year, and tax reform next year. but this was way out of balance. and not a recognition on the part of the white house about the serious spending problem that we have. [ inaudible question ] going over the fiscal cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal...
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taxes on the wealthy. republicans have called that option a non-starter. >> rival protests are under way in egypt's capital right now. thousands of demonstrators have packed the streets around cairo university today to show support for president mohamed morsi. >> just across the nile river the opposition has been urging its followers to come out to tahrir square to protest morsi's expanded powers but so far it's been a future smaller power there. egyptians will vote meanwhile on a new constitution in two weeks. >> south korea has a warning for north korea. it says pyongyang can expect a strong response if it goes ahead with a plan to launch a rocket this monk month. another rocket launch attempt by north korea failed. that was in april. a so-called proposed doover a severe provocation. pyongyang says that it wants to sent a satellite into orbit but the u.s. and south korea suspect it's a cover for ballistic missile tests. now if you're really, really in the mood to shop this weekend, check out the l.a. aut
taxes on the wealthy. republicans have called that option a non-starter. >> rival protests are under way in egypt's capital right now. thousands of demonstrators have packed the streets around cairo university today to show support for president mohamed morsi. >> just across the nile river the opposition has been urging its followers to come out to tahrir square to protest morsi's expanded powers but so far it's been a future smaller power there. egyptians will vote meanwhile on a...
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taxes going up. taxes going up on the affordable care act. billions of dollars of taxes and fees. what's the four-year view look like? what's the plan look like? so let's look at the numbers. how much do we get from deductions? how much do we get from expenditures? how much more do we need? how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with james clyburn, representative clyburn last hour, about the notion of raising tax rates on the wealthy and not where the president wants them. he said i want it higher. take a listen and then talk about it. >> we know where the president is. and that is 250,000. but there are a lot of democrats who voiced back before the campaign 500,000. some say even a million. all of that's going to be negotiated. the president wants 250. if mr. boehner wants to come and offer something different, i'm sure he'll do that but the president stands at 250. which is below even where i was but he won the election. >> do you think
taxes going up. taxes going up on the affordable care act. billions of dollars of taxes and fees. what's the four-year view look like? what's the plan look like? so let's look at the numbers. how much do we get from deductions? how much do we get from expenditures? how much more do we need? how much does obama care add? what is our growth rate? you know, we don't have a plan. >> yeah. >> and we're throwing these dollar numbers around like if they were nothing. >> i spoke with...
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they say, let's tax somebody else. if those taxes are going to small businesses creating jobs, we need to bet more people working. the other poll said people believe if they send more in taxes the government will spend it, much of it will be wasted and the dollar figures are so large it's hard to fathom the debt we have. it's $16 trillion. it's an incredible amount. we have added another trillion dollars in just the last year. we need to get spending under control. >> senator, you're talking about the importance to business tax rates. one guy who presumably knows something about business is the goldman sachs ceo. he met with president obama yesterday. then he went to talk with wolf blitzer who asked if he would support the president's plan of bringing the rates back up on the wealthiest americans. let's listen. >> if that's what it took to make the math work i wouldn't preclude that if the numbers drive that way. >> he says maybe a tax rate increase should be part of a deal. can't it be part of a deal? not the whole de
they say, let's tax somebody else. if those taxes are going to small businesses creating jobs, we need to bet more people working. the other poll said people believe if they send more in taxes the government will spend it, much of it will be wasted and the dollar figures are so large it's hard to fathom the debt we have. it's $16 trillion. it's an incredible amount. we have added another trillion dollars in just the last year. we need to get spending under control. >> senator, you're...
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minimum tax. that's the only part of this whole mess that actually affects your 2012 taxes. it is a big problem, and it would hit like 30 million families who don't know it's coming, but most of this increase affects your 2013 taxes. so you wouldn't actually -- you would feel it in withholding, feel it in your paycheck, but they have time to fix this before you file your 2013 taxes to give you back some of that money. >> time to fix this, laurie montgomery, thank you. i want to start there with dana bash here in a moment. because the fiscal cliff debate is starting to sound like, you know, a high stakes game of chicken. there is all kinds of tough talk. no action. right now democrats and republicans are refusing to compromise on this key sticking point, how to get more money from wealthy people. president obama, you know the deal, he wants to raise tax rates for the wealthy. house speaker john boehner wants to close tax loopholes, limit deductions for the wealthy. let's stay on the hill here, let'
minimum tax. that's the only part of this whole mess that actually affects your 2012 taxes. it is a big problem, and it would hit like 30 million families who don't know it's coming, but most of this increase affects your 2013 taxes. so you wouldn't actually -- you would feel it in withholding, feel it in your paycheck, but they have time to fix this before you file your 2013 taxes to give you back some of that money. >> time to fix this, laurie montgomery, thank you. i want to start...
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he wants higher tax rates on wealthy americans. the republicans try to put some pressure on the democrats by laying out $600 billion in health savings, medicare and the like, adjust that cost of living increase for social security and other federal programs. the president's proposal puts pressure on republicans on rates. the republican proposal puts pressure on the president on entitlements and that cost of living adjustment. the question now is, do they negotiate or just posture? >> that's a good question. are you at all surprised that they're both negotiating in public with specific details of their respective plans instead of just doing this quietly behind the scenes, let their representatives go about a serious negotiation? >> there are some staff members on capitol hill who are circulating what they think will be ultimately where they have to -- as we get closer to christmas, sit down and cut out a deal. ip not surprised the republicans came forward with a public counterproposal because they thought the president was winning i
he wants higher tax rates on wealthy americans. the republicans try to put some pressure on the democrats by laying out $600 billion in health savings, medicare and the like, adjust that cost of living increase for social security and other federal programs. the president's proposal puts pressure on republicans on rates. the republican proposal puts pressure on the president on entitlements and that cost of living adjustment. the question now is, do they negotiate or just posture? >>...
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no tax increases at all. continue the tax break but the wealthiest 2% will have to help us deal with the deficit. >> as always, senator, you make your case very passionately. i want to play you a bit of sound from the white house senior adviser david plouffe in talking about how to resolve the fiscal cliff crisis. listen to this. >> we also need to engage in entitlement reform. medicare, medicaid carefully. these are cheap drivers of our deficit. we made progress with obama care. there's more we need to do. >> we need to engage and the white house is acknowledging this. do you not go along with the president? >> yes, sometimes i disagree with the president. >> yes, that is true. >> but if we are talking about making medicare more efficient, lowering the cost of prescription drugs to medicare, that's a reform along with their other reforms. >> how about this reform, raising the eligibility for medicare from 65 to 67 over several years? >> no. >> why not? >> why not? because there are working people out there w
no tax increases at all. continue the tax break but the wealthiest 2% will have to help us deal with the deficit. >> as always, senator, you make your case very passionately. i want to play you a bit of sound from the white house senior adviser david plouffe in talking about how to resolve the fiscal cliff crisis. listen to this. >> we also need to engage in entitlement reform. medicare, medicaid carefully. these are cheap drivers of our deficit. we made progress with obama care....
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dems want revenue through marginal tax increases on the wealthy. the republicans want entitlement cuts. >> raising tax rates is unacceptable. >> jon: well, let's just check in with the democrats and see where they are at on entitle am reform. >> mr. durbin, the number two man in the senate and other democrats are saying entitlements for this fiscal cliff deal are off the table. >> jon: okay so, the only way to solve there sen titlement reform and tax revenue and those are both off the table so-- i don't want to close my eyes ♪ ♪ i don't want to fall asleep ♪ ♪ because i miss you girl ♪ don't want to miss a thing ♪ ♪ (laughter) >> jon: really? pen microphone? i guess this means there's no way of avoiding the fiscal cliff, the self-imposed fiscal-friendly fire. unless, no, no, way. i could never -- perhaps. we can solve this numbers problem with words. >> frankly i call the fiscal abyss. >> more like y2 k. >> more like a bermuda try and egg. >> more like a grand canyon. >> taxmageddon. >> it's a hill. >> jon: hill, hill, that last one i
dems want revenue through marginal tax increases on the wealthy. the republicans want entitlement cuts. >> raising tax rates is unacceptable. >> jon: well, let's just check in with the democrats and see where they are at on entitle am reform. >> mr. durbin, the number two man in the senate and other democrats are saying entitlements for this fiscal cliff deal are off the table. >> jon: okay so, the only way to solve there sen titlement reform and tax revenue and those...
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tax bill only changed the name of the tax i paid. i got little benefit from the rate ofin my opinion, the expand on tax has nothing to do with the action of indexing. it is the result of the conscious decision to hike the cost of tax reductions. >> the alternative minimum tax is 28%. if your tax rate was lowered to 25%. you still have to pay 28%. >> that is correct. for incomes between to london thousand dollars and $500,000, the effective tax rate is 35%. you hit the 35% rate and incomes fire lower than the income levels at which you would hit the 35% rate and regular tax. >> why do they call it a patch? >> it is a one time year by year patch to stop the broad expansion. you could ask why they call it a cliff. they have discussed this in terms of the patch. it is a year by year increase in the exemptions. the patches nothing but the increase in the a in the exemption to prevent tens of millions of people from being forced to fill up the return you have. the only thing i would add is the package, what makes this so critical in the fi
tax bill only changed the name of the tax i paid. i got little benefit from the rate ofin my opinion, the expand on tax has nothing to do with the action of indexing. it is the result of the conscious decision to hike the cost of tax reductions. >> the alternative minimum tax is 28%. if your tax rate was lowered to 25%. you still have to pay 28%. >> that is correct. for incomes between to london thousand dollars and $500,000, the effective tax rate is 35%. you hit the 35% rate and...
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then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part of a continuing series on "washington journal" focusing on a fiscal cliff. our conversation has broadened. to bring it back to the payroll tax cut and remind you it was enacted in december of 2010, designed to temporarily boost the economy and reduce the tax to% from 6.2% to 4.2% and increased take-home pay about an average of $1,000 to $1,800 per worker. it expires at the end of the year, rates will revert back to 6.2%. if you make $35,000 or so, that will be an extra $700 in taxes. the $2,000, an extra thousand dollars. 75,000, $1,500. finally, $110,000, the upper limit
then personal income taxes. then taxes on consumption, and taxes on property. most of these find that taxes on consumption -- the closest thing we have on the federal level is the payroll tax -- would have no direct tax on consumption like every other country in the oecd. that is a consumption tax. many economists and they oecd find that those taxes have no relationship with economic growth. it is the taxes it -- it is not the taxes on consumption that hard economic growth. host: this is part...
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new hampshire has no income tax, no sales tax. every state around new hampshire, the other new england states have one or the other going into the 1960's, 1970. every state around us added another one. they either added the sales tax or the income tax. with the representation to their people that the other tax would come down and revenue would be effectively used because it would be more effectively collected, especially if they used the sales tax. every one of those state, the revenues haven't gone down, they've gone up dramatically and the income tax has gone up. and the sales tax has gone up and the size of the government has gone up. so from my standpoint, a val added tax is just a way to grossly expand the size of the government. and it does not fix our revenue problems. more importantly than that, just put, where i think this argument ends up, the american people would annihilate any party that taxed -- that cast a national sales tack. the democrat party thinks they're in charge now, and they are. the republican party has do
new hampshire has no income tax, no sales tax. every state around new hampshire, the other new england states have one or the other going into the 1960's, 1970. every state around us added another one. they either added the sales tax or the income tax. with the representation to their people that the other tax would come down and revenue would be effectively used because it would be more effectively collected, especially if they used the sales tax. every one of those state, the revenues haven't...
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we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will succeed together. there is nothing in between. i am confident that we can pass the test and do what is good and right for the american people. >> the president has been talking a lot about taxes lately, and as acpa who practiced for years and a member of ways and means committee, there is no one who likes to talk about tax more than i do. but let's be honest -- talking about taxes is not going to solve the problem that america faces. we have to turn to the spending side of the ledger. furthermore, his tax proposal will kill about 700,000 jobs and do harm to the economy, aga
we can raise tax revenue by simplifying the tax code, not increasing tax rates. we can address wasteful government spending that jeopardize an hour commitments in the national defense and protecting our most honorable. we can jump-start our economy by assuring americans that congress and the president can work together to get the job done and deal courageously with the pressing problems of today. when it comes to the fiscal cliff, the president and congress will either fail together or we will...
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tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the deficit that would have fallen. still bad, but remarkably better than where we find ourselves today. republicans stand ready to work with president obama for a balanced and bipartisan solution. so far, no evidence of that. let's create a long-term solution that does not burden individuals and gives businesses optimism to go forward and invest in the american economy. then the economy can grow for all citizens. i look forward to the testimony of our witnesses. >> thank you. i will introduce our two witnesses. dr
tax rates. congress could enact a program of tax reform that would lower rates and eliminate interest reductions. the president could open up more federal lands and offshore areas for energy exploration. his administration could take a more balanced approach to new regulations. economic growth can help solve our fiscal problems if the economy had grown at the percentage as it has done in the past. the treasury could have collected an additional 650 billion dollars in fiscal year 2012. the...
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this top 2% which otherwise gets a tax cut, it continues a tax cut in the middle income tax extension. this is a moment of truth. the clock is ticking, christmas is coming, the goose is getting fat but in many homes across america it is a very very lean time. the facts are though very important to reiterate. democrats have already agreed in the budget control act and other cuts in this congress to 1.6 trillion dollars in cuts, in spending cuts. we've already agreed in the affordable care act and in the president's budget to over a trillion dollars in savings to medicare without doing any harm to beneficiaries and extended the life of medicare. what is lacking are the revenues. you cannot cut your way to deficit reduction. what does reduce the deficit are jobs, job creation. have the spending cuts, we have the medicare savings, what we need are the revenues. and that is what you have to ask the question, why are we not here to pass the middle income tax cut which unleashes the high end -- increases the high end contribution to the budget talks. why are we not here to pass the middle in
this top 2% which otherwise gets a tax cut, it continues a tax cut in the middle income tax extension. this is a moment of truth. the clock is ticking, christmas is coming, the goose is getting fat but in many homes across america it is a very very lean time. the facts are though very important to reiterate. democrats have already agreed in the budget control act and other cuts in this congress to 1.6 trillion dollars in cuts, in spending cuts. we've already agreed in the affordable care act...
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the president has been clear and we support him on holding firm to the 250 tax cuts, expiration of tax cuts for people making over $250,000 a year. that would be part of a big package that has big can cuts. we've already voted for over a trillion dollars in cuts. revenue is needed and job creation is essential to reduce the deficit. we believe if you want to reduce the deficit grow the economy. it's all together. that is attested by every bipartisan task force, commission, you name it that has come together. you can't get here from here in terms of deficit reduction and fiscal soundness without having revenues be on the table. i'd like to yield to the assistant leader for his comments. >> thank you. i think that this meeting was very very fruitful. it simply remind us once again of exactly why we are here. but i don't know -- but i would add to what the leader has said the time for posturing is over which we are in the holiday season when people will love to turn to their families with some certainty and i think we ought to give them that. and it's very easy to do. the president has la
the president has been clear and we support him on holding firm to the 250 tax cuts, expiration of tax cuts for people making over $250,000 a year. that would be part of a big package that has big can cuts. we've already voted for over a trillion dollars in cuts. revenue is needed and job creation is essential to reduce the deficit. we believe if you want to reduce the deficit grow the economy. it's all together. that is attested by every bipartisan task force, commission, you name it that has...
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there is no net rising taxes today. any taxes increased are offset by taxes. mr. speaker, in last year's autumn statement, we maintained the same piece for consolidation beyond the current spending in 2015 and 2016 and 2017. in this year's autumn statement, we extended the consolidation program for the year is 2017. the opr project as that as a result, the share of national income spent by the state will fall from almost 40% of gdp in 2009 and 2010, to 39.9% 52018. the document shows total management expenditure will continue to fall and will now people are willing to go and 2018 and if it had been held flat in real time. no decisions to cut this is ever easy. those who said we would have higher taxes or higher borrowing or both. i also provide further details of the consolidation plans for 2015 and 2016, last year at this parliament. as the two years ago that the correct balance for the fiscal consolidation between spending and tax should be 80-20. i can announce that we will almost be exactly able to deliver on that mix. total spending will fall in the final yea
there is no net rising taxes today. any taxes increased are offset by taxes. mr. speaker, in last year's autumn statement, we maintained the same piece for consolidation beyond the current spending in 2015 and 2016 and 2017. in this year's autumn statement, we extended the consolidation program for the year is 2017. the opr project as that as a result, the share of national income spent by the state will fall from almost 40% of gdp in 2009 and 2010, to 39.9% 52018. the document shows total...
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like the earned income tax credit. and you were talking about not only a lot of retirees, you're talking about the entire enlisted corp, the united states military and it was an awful statement. and i think he paid a tremendous price for it. it just as you conceive of a presidential campaign you don't want to push people out in a way. it's not a zero sum game where in order to get 50 plus 1 we're going to stigmatize 47%. politics is a game of addition. this is what david and the obama campaign understood so brilliantly is how do we assemble a coalition of voters to get a majority of the vote? and i do think if you look at that coalition that's been assembled i suspect it will be enduring for some time in the way the reagan coalition was and the obama coalition will be. but it was a bad moment for the romney campaign in this election. >> david mentioned in his opening remarks 47%. it was co-incidentle i think that president obama last 47% and you said that the 47% mr. romney was refering to was republicans. that was coi
like the earned income tax credit. and you were talking about not only a lot of retirees, you're talking about the entire enlisted corp, the united states military and it was an awful statement. and i think he paid a tremendous price for it. it just as you conceive of a presidential campaign you don't want to push people out in a way. it's not a zero sum game where in order to get 50 plus 1 we're going to stigmatize 47%. politics is a game of addition. this is what david and the obama campaign...
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as i said the entire tax code is becoming a tax incentive. where you draw the line the amt usually goes to tax incentive bills and the fact the senate finance tax bills this year, the senate didn't pass it, the finance committee passed it and included tax extenders and the ones you went over but also included the amt patch indexing to inflation. >> so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiation, what are the options for congress right now on december -- what is it the sixth today? >> these are kind of an afterthought at this point because often, as i said, all these are extended for your or two at a time. they talk about trying to make the list shorter, but if they have to, december 29th, they need to pass something, all they have to do is pass everything for a year and it won't costs so much. they get to this after figuring out the bigger question. >> host: they can do in one bill? text extenders and list the different -- >> guest: you will go in the big fiscal compromise and you wo
as i said the entire tax code is becoming a tax incentive. where you draw the line the amt usually goes to tax incentive bills and the fact the senate finance tax bills this year, the senate didn't pass it, the finance committee passed it and included tax extenders and the ones you went over but also included the amt patch indexing to inflation. >> so if these tax extenders have to be dealt with by the end of the year and in the fiscal cliff negotiation, what are the options for congress...
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refugees surged into neighboring turkey, jordan, lebanon and iraq taxing the limits of those countries and creating a regional crisis. assad's escalation of violence has reached the point where fighter jets have been used to kill civilians according to human-rights watch. hard to comprehend that happening in any country but that is what has played out. this regime's shocking capacity for widespread terror will only grow as we see reports that chemical weapons have been prepared for use. international institutions will largely remain on the sidelines, held hostage by the reprehensible policies of the russian and chinese governments. maybe there is change. we will see what happens. the administration was right to initially work with the united nations but unfortunately due to chinese and russian in transitions these efforts have only served to prolong suffering of the syrian people. we need a new course. ambassador ford, you heard from him already, ambassador ford has led the charge in coordinating humanitarian assistance. let me share a few thoughts on this brave american, ambassador fo
refugees surged into neighboring turkey, jordan, lebanon and iraq taxing the limits of those countries and creating a regional crisis. assad's escalation of violence has reached the point where fighter jets have been used to kill civilians according to human-rights watch. hard to comprehend that happening in any country but that is what has played out. this regime's shocking capacity for widespread terror will only grow as we see reports that chemical weapons have been prepared for use....
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they will not raise tax rates. they will not raise taxes on the top wealthiest 2% of americans. they say no way. no how will that be included. they're dead wrong. they're wasting time. when i saw that proposal yesterday, to coin a word, you know what my reaction was? i was flabbergasted! oh, my god. i was flabbergasted. >> thank you mr. speaker. >> bill: john boehner isn't the only one. flabbergasted that they would have the audacity to put something like that forward when they know it's not going anywhere. it's a total joke. social security has not contributed to the deficit. social security should not be on the table. these guys hate social security so much, they want to get rid of social security and medicare so much that everything they put forward has to have cuts in medicare and social security. so that's a nonstarter. the president has said he's not going to touch social security. the president said he's not going to raise the eligibility age for medicare. and the president has also said jay carney said it again yesterday, he's not even going to consider any bill that con
they will not raise tax rates. they will not raise taxes on the top wealthiest 2% of americans. they say no way. no how will that be included. they're dead wrong. they're wasting time. when i saw that proposal yesterday, to coin a word, you know what my reaction was? i was flabbergasted! oh, my god. i was flabbergasted. >> thank you mr. speaker. >> bill: john boehner isn't the only one. flabbergasted that they would have the audacity to put something like that forward when they know...
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the middle class can't possibly afford anymore taxes. that's why the rich have to pay their fair share. >> cenk: let me throw a quick question. >> i think if it's framed that way in terms of jobs and public investment and all of us, i think that's a winning way of framing it. >> cenk: you're definitely right about that, there's no question about that. the question is the guy in the white house is not going to frame it that way. if my prediction is right and we'll go to the upper end of it and say the marge national tax rate gets moved up. is that a good deal for a bad deal? >> it's a bad deal, because remember the clinton highest marginal tax rates on dual filers 39.6% that is still historically very, very low. i mean, before 1980, the highest marge national tax rate was 71% under eisenhower, 91%. even if you consider all of the tax deductions that the wealthy took in those years. the effective tax rate on the highest income people was still about 55%. much higher than the 39% under bill clinton. did the economy suffer? no! we did very w
the middle class can't possibly afford anymore taxes. that's why the rich have to pay their fair share. >> cenk: let me throw a quick question. >> i think if it's framed that way in terms of jobs and public investment and all of us, i think that's a winning way of framing it. >> cenk: you're definitely right about that, there's no question about that. the question is the guy in the white house is not going to frame it that way. if my prediction is right and we'll go to the...
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tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion that some. she has been taking steps to assess her options when it comes to running for office. she is doing opposition research on herself to see where she might be most vulnerable. mcconnell will be running for his sixth term another option is to run against senator rand powell in 2016. there is a briefings tomorrow on the september 11th attack on our console consoleate attack in benghazi they the talking points were watered down by the cia. it said the notes did contain reference to al-qaeda but the cia took it off. elizabeth warren has won a sp
tax cuts for the top 2%. and they are like here is our offer. if you are going to make a deal at least deal something somebody actually wants. >> yeah. >> stephanie: serious plan. they are like they won the election. >> it is totally farfetched and they are like i don't understand why he doesn't want it. >> stephanie: all right. here she is, jacki schechner in the current news. >> good morning. we already know that ashley judd can show a much wider range of emotion...
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all of the bush tax cuts will have gone away. some maintain that in that environment, if the president put forward a tax cut bill for all of those under 250,000, that the republicans would reject it and insist on something for the wealthiest as william. that just isn't realistic. i can't imagine that in that kind of environment when given the option of extending tax cuts or reinstating them for all of those middle class families that the g.o.p. would stand in the way. so from a leverage point of view, i think the g.o.p. one of the reasons i think they are starting to cave on the issue is they realize they are in a far weaker position. >> as you point out let's say we get up to the deadline and the republican position still is: no on the 98% unless we get the tax cuts extended for the top two % as well. you are president obama. do you take that deal or say no deal? >> you say no deal. you say no deal. >> you have to. don't you? >> the election has to have meant something. this was a central facet of the election that, you know, th
all of the bush tax cuts will have gone away. some maintain that in that environment, if the president put forward a tax cut bill for all of those under 250,000, that the republicans would reject it and insist on something for the wealthiest as william. that just isn't realistic. i can't imagine that in that kind of environment when given the option of extending tax cuts or reinstating them for all of those middle class families that the g.o.p. would stand in the way. so from a leverage point...
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they realize that our taxes are going to be up a little bit. they know there is going to reform to social security and medicare, they want to know so they know how to plan for their companies. i hope it's resolved before i get there if not so be it, i see this as an opportunity for america to lead the way. china is slowing down. india is slowing down. europe is in a recession. south america is slowing down. we have an opportunity to lead out of this mess. i hope we take the lead. >> jennifer: everyone wants to prevent going over over the cliff you still will have a lot of issues on how best to lead the country forward. allen west will be gone but there will be tea partyers remain. how do you work with people who think compromise is a bad word? >> look, i was just earlier with the republican part of my district today and met with a lot of republican commissioners. the message i told them is what i told everybody. whether you're a republican, democrat, i have an open door. i want to hear your thoughts, your concerns and i want to be your voice in
they realize that our taxes are going to be up a little bit. they know there is going to reform to social security and medicare, they want to know so they know how to plan for their companies. i hope it's resolved before i get there if not so be it, i see this as an opportunity for america to lead the way. china is slowing down. india is slowing down. europe is in a recession. south america is slowing down. we have an opportunity to lead out of this mess. i hope we take the lead. >>...
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you said he should propose lowering the corporate tax rate from 35% to 30%. what's your rationale behind that? >> well i have rationales both substantive and political. substantive, i think it is the right thing to do. i've spoken to a lot of economists about this over the years. even many liberal economists would agree that the corporate tax rate of 35% in this country is too high. it is higher than in most other -- i think every other advanced country. now it has to be done, obviously, the lowering would have to be done with closing loot of the loopholes that corporations take advantage of. 26 major corporations last year paid no federal income tax at all. so that nonsense has to be done away with. but substantively, many economists think it is a good idea to lower the corporate tax rate. politically, i think it further hems the republicans in. i think it gives obama even higher political ground than he has now. he already has political high ground. he already has a strong position. he may not even have to do this politically. but i think that this would se
you said he should propose lowering the corporate tax rate from 35% to 30%. what's your rationale behind that? >> well i have rationales both substantive and political. substantive, i think it is the right thing to do. i've spoken to a lot of economists about this over the years. even many liberal economists would agree that the corporate tax rate of 35% in this country is too high. it is higher than in most other -- i think every other advanced country. now it has to be done, obviously,...
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tax cut by reenacting the current tax rates for 98% of americans. that kind of logic only makes sense in washington. in my view, we ought to come to some responsible bipartisan broad agreement now and save all of the chaos and save all of the press coverage of the next five weeks. but we may well not get there. it is better for us to go over the cliff than for the democrats to again agree to a deal in which entitlements get slashed and vital supports for low income seniors, for the disabled, for children who are vulnerable in medicaid get taken away. so that's the bigger dynamic. >> bill: amen to that. i'm going to ask you for 30 seconds, we're right up against the clock. you mentioned this word so i have to ask you. will we get filibuster reform? >> i'm optimistic. we've had some very serious conversations in caucus about it. leader reid has fundamentally changed his view from two years ago when we discussed it before. the proposals that the democrats have put on the table for rules reform are modest and responsible. it is essentially this. if you'
tax cut by reenacting the current tax rates for 98% of americans. that kind of logic only makes sense in washington. in my view, we ought to come to some responsible bipartisan broad agreement now and save all of the chaos and save all of the press coverage of the next five weeks. but we may well not get there. it is better for us to go over the cliff than for the democrats to again agree to a deal in which entitlements get slashed and vital supports for low income seniors, for the disabled,...
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by letting the bush tax cuts expire they get trillions of revenue while preserveing tax cuts for the 98%. how can you be except that? >> stephanie: it's so wear to see a moment of naivete from jim. close the door. >> close the door, wow. >> stephanie: karl, before we go, what is your take on this susan rice thing susan collins now expressing that she's also troubled. >> i'm very troubled. >> stephanie: here's what i don't get, wouldn't he be nominated for secretary of defense any way? >> there's been speculation that he would go up for either one of them. i think he would be perfectly godgood at either one of them, but it all comes down to them not liking susan rice and wanting to blame her for things that happened in the 90s too. >> stephanie: she was also responsible for the coal bomb,. >> we need help with women let's go after one. >> stephanie: yes, exactly. karl frisch, you are delightful. i love you. come back. >> any time. >> stephanie: right back on "the stephanie miller show"." governor tomorrow night. she is awesome. we'll be right back on the "stephanie miller show." [ ♪
by letting the bush tax cuts expire they get trillions of revenue while preserveing tax cuts for the 98%. how can you be except that? >> stephanie: it's so wear to see a moment of naivete from jim. close the door. >> close the door, wow. >> stephanie: karl, before we go, what is your take on this susan rice thing susan collins now expressing that she's also troubled. >> i'm very troubled. >> stephanie: here's what i don't get, wouldn't he be nominated for secretary...
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give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that middle class -- i'm a teacher my wife and i -- that they're thinking about what happens if that tax bill changes on january 1st and they're making decisions about their spending right now. that's reality. the one thing i agree with republicans on in the 2010 elections was that the economy needed certainty. the thing that frustrates me is it is creating more uncertainty by them not signing on to this and passing it. >> stephanie: absolutely. what i was saying last hour, representative, the thing we're not falling for is some of
give 98% of us tax relief. the things that both sides agree on and then the president yesterday thinks the president is poised to take off. obviously going over the cliff is the last thing anybody wants right now. >> i agree. i hear people on both sides talk about that. it may have been a contrived cliff. i know some folks call it a curve or whatever they want to call it. the fact of the matter is a large portion of any economy is the psychological effect of it. and you can't tell me that...
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there had to be a continuation of the middle class tax cut, and an end of the tax cut for the very wealthy in -- in 2010 they got over 90%, the upper 1% -- 90% over that of the income growth and the third point, the surveys show after the election all of them -- that if you ask people should there be continuation of the middle class tax cuts? yes. should there be a continuation of the tax cuts for the very wealthy? no. the surveys are very clear. >> stephanie: this basically feigning shock at economic proposals that the president has put forward many times before and the voters just voted for, for mitch mcconnell to say he burst out laughing and john boehner to say he was flabber -- flabbergasted it is incredible. >> essentially they come up with a status quo proposal. >> stephanie: right. and the status quo that just lost. >> yeah, they are status quo, and that -- so that won't work. >> stephanie: representative what -- is nancy pelosi -- are we going -- is she going to put that forward this week in the house? the voting on the middle class tax cuts? >> absolutely. we have a discharge pet
there had to be a continuation of the middle class tax cut, and an end of the tax cut for the very wealthy in -- in 2010 they got over 90%, the upper 1% -- 90% over that of the income growth and the third point, the surveys show after the election all of them -- that if you ask people should there be continuation of the middle class tax cuts? yes. should there be a continuation of the tax cuts for the very wealthy? no. the surveys are very clear. >> stephanie: this basically feigning...
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he's going to lower the tax rates anyway. he never explained it, did he, michael? >> not once. there was zero specificity, as carney said, you would have to read the letter and see. >> cenk: just trust me, nonsense right? the $600 billion changes to medicare and medicaid, they're cutting mandatory programs, cutting discretionary spending, $300 billion and by the way $200 billion in cuts to social security but changing the consumer price index. as you look at this, it looks really unpopular. >> it is, too. boehner's in a tough spot right now, because you have defected, yes, held the house but their house caucus is fractured. you have people in the tea party wing saying under no circumstances are we going to vote for anything that increases taxes. >> the heritage foundation and conservatives fighting back to boehner saying it's not enough. we need much more. we need to you hack away at social security and medicare more, so now boehner is between a rock and a hard place thee theoretically. it's atrue we don't want to have too much sympathy for john boehner. >> let's cry. >> and yo
he's going to lower the tax rates anyway. he never explained it, did he, michael? >> not once. there was zero specificity, as carney said, you would have to read the letter and see. >> cenk: just trust me, nonsense right? the $600 billion changes to medicare and medicaid, they're cutting mandatory programs, cutting discretionary spending, $300 billion and by the way $200 billion in cuts to social security but changing the consumer price index. as you look at this, it looks really...
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Nov 30, 2012
11/12
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we don't tax wealth. i think the suggestion is a principle that i will take into into the comprehensive tax reforms because i believe that wealth should be taxed. you cannot hide it in the cayman island. you can't hide it in capital gains. why should that be taxed at a different rate? because you're going to reinvest that money? that didn't happen in 2001 or 2003. the unemployment rate there is horrible. president bush had a terrible second term, lost hundreds of thousands of jobs. what the heck are we talking about here? where is the proof? where is the data. >> stephanie: representative john boehner said this yesterday. >> sound byte: the country doesn't need a victory lap. it needs leadership. >> oh, shut up. >> caller: that's a great line. >> stephanie: this is what the president ran on. this was not a victory lap. this was the defining argument of the election that he just won. the american people voted for this. this is what we should be doing. >> caller: stephanie, i only hope, i would not say this
we don't tax wealth. i think the suggestion is a principle that i will take into into the comprehensive tax reforms because i believe that wealth should be taxed. you cannot hide it in the cayman island. you can't hide it in capital gains. why should that be taxed at a different rate? because you're going to reinvest that money? that didn't happen in 2001 or 2003. the unemployment rate there is horrible. president bush had a terrible second term, lost hundreds of thousands of jobs. what the...
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Dec 3, 2012
12/12
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$2,000 more in taxes. we will give a tax increase. we will raise taxes on 98% of americans unless you give us another tax break for our buddies and millionaires and billionaires, the top 2% in the country. you can't blame even mitch mcconnell any more. it's john boehner who is standing in the way. he did so again the republicans give this babble. the president says what's your plan? what do you want to cut? close loopholes. what loopholes? they won't say. to them, nothing. a detailed plan versus nothing. you've got a existed in in president obama versus a lose her in john boehner. and here is boehner again yesterday, on fox news sunday saying, when he looked at the president's proposal, oh my god. >> i was flabbergasted. >> flabbergasted. >> he can't be serious. i just have never seen anything like it. we've got seven weeks between election day and the end of the year three weeks have been wasted with the nonsense. who is flabbergasted anymore? have you ever heard that word? >> peter: an old word. >> 1920s
$2,000 more in taxes. we will give a tax increase. we will raise taxes on 98% of americans unless you give us another tax break for our buddies and millionaires and billionaires, the top 2% in the country. you can't blame even mitch mcconnell any more. it's john boehner who is standing in the way. he did so again the republicans give this babble. the president says what's your plan? what do you want to cut? close loopholes. what loopholes? they won't say. to them, nothing. a detailed plan...
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Dec 7, 2012
12/12
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and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six minutes after the hour. right back own the "stephanie miller show." >> on the stephanie miller radio show in suburban america this morning -- >> announcer: it's the "stephanie miller show." ♪ [ boy 1 ] hey! that's the last crescent. oh, did you want it? (vo) when the clock runs out when the last card is played i want the people who watch our show, to be able to come away armed with the facts, and the arguments to feel confident in their positions. i want them to have the data and i want them to have the passion. but it's also about telling them, you're put on this planet for something more. i want this show to have an impact beyond just i
and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six...
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Dec 7, 2012
12/12
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the relative and absolute tax burden of the federal income tax on the, you know, income taxes in general, you'll find that the burdens are on the lower income groups. >> eliot: we've got to stop it there, thank you, you are a patriot, you want to pay more. that's "viewpoint" for this week. [ ♪ theme ♪ ] >> bill: hey, hey, hello everybody. it is tuesday. >> bill: good morning, everybody. happy friday. it is friday december 7th, so good to see you today. welcome to the "full-court press" here on current tv coming at you live all across this great land of ours with all of the news of the morning from our nation's capitol. >> that's where you find us right here on capitol hill. we will tell you what's happening in our nation's capitol and give you a chance to get involved in the conversation at 866-55-press. how about a big news today? south carolina's jim demint announced he is going to resign from the senate to head the heritage foundation. that is good news not senate. at a time gets rid of one of the most whacko extremist members of the senate. bad news for the heritage foundation be
the relative and absolute tax burden of the federal income tax on the, you know, income taxes in general, you'll find that the burdens are on the lower income groups. >> eliot: we've got to stop it there, thank you, you are a patriot, you want to pay more. that's "viewpoint" for this week. [ ♪ theme ♪ ] >> bill: hey, hey, hello everybody. it is tuesday. >> bill: good morning, everybody. happy friday. it is friday december 7th, so good to see you today. welcome to...
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Dec 6, 2012
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the risk is if we do go over the cliff, allow taxes -- that means taxes on every american will go up. every taxpayer will go up first of the year. not just on the top 2%. and somebody's going to get the blame for that. we're counting on the republicans -- americans knowing that republicans are to blame. is that the case? do you agree. 1-866-55-press. is that what the president ought to do. 1-866-55-press. one thing you ought to -- before we get back to your calls urge you to consider, particularly if you are one of those families struggling to make ends meet at the end of every month and who's not, take a look at incomeathome.com. no obligation. just check it out. they're america's leading work from home business and they're offering you an opportunity you can do. in matter your age education or experience, you can literally earn money on your own laptop from your own kitchen table 24/67. it is at least worth checking out. if you're sick of living paycheck to paycheck, worried about job security or retirement if your goal is to.earn extra money part-time or full time, they're adding m
the risk is if we do go over the cliff, allow taxes -- that means taxes on every american will go up. every taxpayer will go up first of the year. not just on the top 2%. and somebody's going to get the blame for that. we're counting on the republicans -- americans knowing that republicans are to blame. is that the case? do you agree. 1-866-55-press. is that what the president ought to do. 1-866-55-press. one thing you ought to -- before we get back to your calls urge you to consider,...
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Dec 7, 2012
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and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree, it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six minutes after the hour. right back own the "stephanie miller show." >> on the stephanie miller radio show in suburban america this morning -- >> announcer: it's the "stephanie miller show." ♪ [ boy 1 ] hey! that's the last crescent. oh, did you want it? (vo) when the clock runs out when the last card is played what will be remembered? explore the lives of the famous and infamous who changed our world forever. experience the drama, back to back to back. of all the hours in all their days, the ones you'll never forget are the final 24. don't miss the final 24 mini-marathon this sunday on current tv. save the best for last. [ boy 1 ] hey! t
and then he accuses president obama of taxing christmas. [ applause ] >> taxing christmas. >> stephanie: it's not even worth my energy to explain. >> how do you tax christmas? >> stephanie: you don't, and that's why -- you don't. you don't. [ sighs ] >> stephanie: like that added anything to the show. >> you want an angel on the top of the tree, it is going to cost you. obama is going to charge you a million dollars. >> stephanie: all right. forty-six...
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Dec 3, 2012
12/12
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tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign? bill clinton! kind of weird. >> good president. >> stephanie: mary in pennsylvania. hi mary. >> caller: hi, there. i love your show. didn't start watching it until late in the campaign. and i feel like i found a wonderful friend. >> stephanie: aww. >> caller: my question is grover cleveland -- >> stephanie: his ideas are just as fresh. [ laughter ] >> caller: exactly. if he think the average career only lasts 25 years has he signed up all of those people to the pledge 20 years ago shouldn't we be getting ready to throw him a retirement party pretty soon? >> stephanie: yeah, one wou
tax cuts, big tax cuts for rich people started under george w. bush and then we had the biggest economic collapse since the great depression. what does that tell you? >> stephanie: why can't they ever acknowledge that? they ran away from bush. no one campaigned on george bush. they must know his policies didn't work. why are they pretending they did? >> he wasn't even at the convention. >> memory hole. >> stephanie: gee, who was really front and center of our campaign?...
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Nov 30, 2012
11/12
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it is supported by the payroll taxes. that workers and their employers pay. >> you have seen, surveys that show the direct we're going, we -- the direction we're going we have moved its trouble date up, compared to other programs, that is prestine, my only point is why not put it out there, why not put out medicare, and medicaid and everything, and for republican defense, everything, and rather than pick and choose. >> whether defense, medicare, medicaid, those are out of general revenues, they are in a defendant category. social security, does nida, just need adjustments, it should not be part of solves will deficit. neil: i think what is intrinsic. is what you are not saying. that we're missing an opportunity to address the overall rate of money coming in and money going out. if you want to leave social security alone, and just look at all of other entitlements and big spending and hear, they say focus it has to be on taxes, i'm not here is a they don't raise taxes on the rich. the elects do have consequences that is on
it is supported by the payroll taxes. that workers and their employers pay. >> you have seen, surveys that show the direct we're going, we -- the direction we're going we have moved its trouble date up, compared to other programs, that is prestine, my only point is why not put it out there, why not put out medicare, and medicaid and everything, and for republican defense, everything, and rather than pick and choose. >> whether defense, medicare, medicaid, those are out of general...
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with taxes going up, tax-free muni bonds are all the rage. we will have tips on how to find some good ones next. dennis: first, some of today's winners and losers. ♪ [ male announcer ] this is joe woods' rst day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it y, but he'll wk his way up from busser to wter to chef before opening a restaurant specializing in fish and me from the great northwest. hel start investing early, he'll find some good people to help guide him, nde'll set money aside from his first day of work to his last, which isn't rocket science. it's just common sense. from td ameritrade. dennis: over 100 companies are paying special dividend. this is before the tax rate on dividends could more than double in january. liz macdonald is here. >> already munis has downgraded nearly a third. borrowed money to issue special dividend. in other words, do it before tte end of the year. in fact, half of the deals out there, in october, worked for special dividend. i will tell you so
with taxes going up, tax-free muni bonds are all the rage. we will have tips on how to find some good ones next. dennis: first, some of today's winners and losers. ♪ [ male announcer ] this is joe woods' rst day of work. and his new boss told him twongs -- cook what you love, and save your money. joe doesn't know it y, but he'll wk his way up from busser to wter to chef before opening a restaurant specializing in fish and me from the great northwest. hel start investing early, he'll find some...
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Nov 29, 2012
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far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging americans to tweet their support for using the hash tag mo farah, as in my $2000, raised taxes on somebody else. now my2k has become a way to trash obama and cheering at the democrats. they been acquired sponsorship rights for my2k, they often see paid messages opposing the obama tax hikes. they run the gamut. some talk about the sudden switch to now playing up keeping tax cuts for everyone else. others make fun of my2k origins. a few samples. obama irony, same people who claimed bush tax cuts are only for the rich now argue to keep them because they hel
far as tax reform, come up with more tax revenue. melissa: thank you so much for your input, peter barnes. lori: what is on the menu? got to give a shout out. there is another battle brewing over the fiscal cliff, instead congress and the white house, this one happening on twitter. melissa: dennis kneale is covering the story with the latest. i love this one. >> the obama administration renowned for the use of social networks but this time maybe it outdid itself. the president urging...
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Dec 2, 2012
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continuing to extend the pay roll tax cut which is a defending of social security . every since we started that bad policy. we have seen them run the deficit . medicare. when you see the american people paying on average. 115 million a year and getting something 300 mill or 300,000, benefits in their life. we have to do something about the fee for service program and get it a defined benefit and we have to reform and preserve mandatory spending programs. >> one of the things you are best at as a communicator of the republican party. what do you tell people who are worried about republicans or democrats might do in congress that would put their security in jeopardy? >> first and foremost, we are not talking about making change for current seniors or those 10 years from going in. but we have to do something for someone like myself who is 51 or those programs will not be there. we are talking 10-12 years of solvencey between social security and medicare. we have to be adults and leaders and say we have a program and we'll bring viable solutions to future generations. >>
continuing to extend the pay roll tax cut which is a defending of social security . every since we started that bad policy. we have seen them run the deficit . medicare. when you see the american people paying on average. 115 million a year and getting something 300 mill or 300,000, benefits in their life. we have to do something about the fee for service program and get it a defined benefit and we have to reform and preserve mandatory spending programs. >> one of the things you are best...
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same tax rate at you, who cares? if they made $5 million they are paying more than those who make $50,000. >> especially since if are you making $50,000 you are not really paying anything. >> on the whole two-thirds of million mares supposedly left when the top tax rate went to 50%, you said, quote, it is believed many rich brits moved abroad taking flight to avoid the impost bite. yes, or maybe two-thirds of them found a way to declare less taxable income. there is no evidence they moved anywhere. >> it is believed. i was crafty the way i said thatment it is believed by some. my sources tell me. >> exactly. cops tell women to take down uh pensive christmas lights. i'm sorry i blacked out. i think you said you agreed with the aclu. >> yes, they left it to her defense to put her lights back up. >> your reputation is toast. >> i am for christmas lights. in this one singular instance, the aclu is also for christmas lights. so they actually agree with me. >> all right. well, i think the aclu would have no problem with an
same tax rate at you, who cares? if they made $5 million they are paying more than those who make $50,000. >> especially since if are you making $50,000 you are not really paying anything. >> on the whole two-thirds of million mares supposedly left when the top tax rate went to 50%, you said, quote, it is believed many rich brits moved abroad taking flight to avoid the impost bite. yes, or maybe two-thirds of them found a way to declare less taxable income. there is no evidence they...
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Dec 3, 2012
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they may consider eliminating tax deductions on high income earners. and a third powerful storm hitting less than a week. weather causing rain flooding at a rate of an inch an hour at times. thousands lost their electricity. the damage wasn't as bad as they thought it would be. >>> i am marianne rafferty. now back to foxnews.com. harris. let's send you back to huckabee hosted by dana pireno. >> when i was white house press secretary and faced a room full of reporters and i am used to getting tough questions . it has been a a while since i was grilled and since i am guest host and i can't play a bass guitar. i am take questions. only person missing is helen thomas and sit negligent front row and she and i were good friends believe it or not. who is it first. >> hi, dana, i am richard from dallas and got an easy one. you are obviously lovely intelligent nice person, is it difficult to tolerate bob beckel every day? >> very. >> bob and i used to take the train back and forth when we commute benefit we moved to new york. we were in dc and go back together
they may consider eliminating tax deductions on high income earners. and a third powerful storm hitting less than a week. weather causing rain flooding at a rate of an inch an hour at times. thousands lost their electricity. the damage wasn't as bad as they thought it would be. >>> i am marianne rafferty. now back to foxnews.com. harris. let's send you back to huckabee hosted by dana pireno. >> when i was white house press secretary and faced a room full of reporters and i am...
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Dec 1, 2012
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loopholes and lower tax rates. that's far better for the economy. >> the clock is ticking. the year is ending. it's really important with tax legislation for it to happen now. we're calling upon the republican leadership in the house to bring this legislation to the floor next week. >> arthel: let's bring in steve centanni with more. >> as you can see, the two sides are taking strong stands on principle, but aren't really getting any closer to a compromise as we speed toward that fiscal cliff. the president hit the road appearing at a pennsylvania toy factory yesterday and appealing for a balanced approach, including spending cuts and new revenues. the president says we could cut taxes for the middle class right now if congress agreed to extend the bush era tax cuts for everybody except those earning more than 250,000 a year. he stressed the urgency of the situation. >> if congress does nothing, every family will see their income taxes automatically go up at the beginning of next year. a family of four will see the
loopholes and lower tax rates. that's far better for the economy. >> the clock is ticking. the year is ending. it's really important with tax legislation for it to happen now. we're calling upon the republican leadership in the house to bring this legislation to the floor next week. >> arthel: let's bring in steve centanni with more. >> as you can see, the two sides are taking strong stands on principle, but aren't really getting any closer to a compromise as we speed toward...
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, $15 million in state tax, using missouri state tax rate. guess what? governments take nearly a billion dollars, took in nearly a billion dollars last night and the winner split 232 million. so 116 million. >> gretchen: here is the question that nobody can answer for me today. that is the whole purpose of the lottery, the intention of the lottery originally was for states to raise money to help education. >> sure. >> they do. >> gretchen: excuse me. we are terrible at school right now. our students are on a downgrade. we're talking constantly about having no budgets for our schools and we're talking right now on capitol hill about raising taxes because we have no money. >> and by the way, guys, there is a huge, huge controversy brewing over this literally trillion dollar bomb that could explode in student loans defaulting and maybe there is going to be some sort of push to bail that sector out. maybe that's the next obama bailout. >> steve: thank you very much. we'll be watching you and brian. you'll be two of the five on "the five." >> bria
, $15 million in state tax, using missouri state tax rate. guess what? governments take nearly a billion dollars, took in nearly a billion dollars last night and the winner split 232 million. so 116 million. >> gretchen: here is the question that nobody can answer for me today. that is the whole purpose of the lottery, the intention of the lottery originally was for states to raise money to help education. >> sure. >> they do. >> gretchen: excuse me. we are terrible at...
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we asked each side what they would be willing to cut to make sure your taxes don't go up. plus, it isn't a wild safari, this is staten island. how these two pulled off the greatest scape. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. this bible changed the world. i'm kirk cameron. four hundred years ago our forefathers risked their lives to bring this bible to the shores of america. because it contained the principals for economic liberty, political liberty and religious freedom. the 1599 geneva bible. it was the first complete english translation, complete with chapters, numbered verses and 300,000 utterly unique study notes. it actually came out before the king james version and because the government didn't authorize it, it was outlawed. but it was a bible by the people, for the people, the book that built america. and now for the first time in 400 years it's available a
we asked each side what they would be willing to cut to make sure your taxes don't go up. plus, it isn't a wild safari, this is staten island. how these two pulled off the greatest scape. [ woman ] ring. ring. progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. this bible changed the world. i'm kirk cameron. four hundred...
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. >> eric: yes, i did pay my taxes. no i didn't kill anyone. >> kimberly: i'm not against dogs, yeah, the whole thing. i like dogs. >> eric: i like twitter. that was the big thing. please roll the video. according to the reporter newspaper, president obama plans to do his annual wine vacation, get this, the dates are december 17 through january 6. so that means, while america is hurled head first off the fiscal cliff, the obama will spend 21 days golfing, body surfing and lunching to the tune of $4 million taxpayer dollars. you can't make stuff up. >> kimberly: that sounds good to me. >> dana: the reporters would have complained if they spent 21 days in waco. but 21 in hawaii could be worse. he said let's make sure we get it done before christmas. get it done on december 16, sign it, get out of town. >> eric: $4 million. >> bob: if he was in the bathroom at the white house it would cost $4 million. >> eric: december 17 to january 6. fiscal cliff hits december 31. smack dab in middle of this vacation. he snub hawaii, bod
. >> eric: yes, i did pay my taxes. no i didn't kill anyone. >> kimberly: i'm not against dogs, yeah, the whole thing. i like dogs. >> eric: i like twitter. that was the big thing. please roll the video. according to the reporter newspaper, president obama plans to do his annual wine vacation, get this, the dates are december 17 through january 6. so that means, while america is hurled head first off the fiscal cliff, the obama will spend 21 days golfing, body surfing and...
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he suggested that he wants to see taxes go up for the rich. middle class tax cuts get extended for the middle class and then we will back and deal with spending cuts next year. >> and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits it, to streamline our tax system. to do it in a balanced way. including asking the wealthiest americans to pay a little more. >> the problem with that strategy is that republic leaders are insisting that they don't want to take a framework for spending cuts down the road in exchange for tax changes now. they want it all done at the same time so that they can be sure that if taxes are going up on the rich, that in fact some of those spending cuts to bring down the debt will actually materialize. it might make it more likely to go of 00 cliff even though the president insisted today he thinks there will be a deal within weeks, shep. >> shepard: as for extending tax cuts for middle class americans it sounds like there is some agreement on that matter. >> it
he suggested that he wants to see taxes go up for the rich. middle class tax cuts get extended for the middle class and then we will back and deal with spending cuts next year. >> and it would give us more time than next year to work together on a comprehensive plan to bring down our deficits it, to streamline our tax system. to do it in a balanced way. including asking the wealthiest americans to pay a little more. >> the problem with that strategy is that republic leaders are...
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tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of sitting down with john boehner, running around pushing for a bill to increase -- extend just the middle class tax cuts which he knows republicans will never do. you can see it in the fact that 33 senate democrats signed this letter which says, quote, we will oppose including social security cuts for current or future pen fisheries in any -- beneficiaries at any time. that's signed by harry reid. senator durbin giving a speech saying no touching medicare or medicaid in any year end package. so, basically, the democratic positio
tax hikes on the rich. republicans have said, well, we don't want that, but we will put revenue on the table if you agree to some spending cuts. and now both sides are saying you show us your proposed spending cuts first. do i have it about right, marc? >> yeah, about right, essentially. look, the president -- i think it's very clear, i think at least, that the democrats want to go off the fiscal cliff. you can see it in the fact that president obama's out there campaigning instead of...
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the taxes are this. 35% will go to federal taxes. 4.54% will go to arizona taxes, that is much better than california. and 6% will go to missouri taxes. interesting too a couple other notes for you. one this isn't the largest lottery in u.s. history actually earlier this year the megamillions game was $656 million. three people bought tickets that won that, that was earlier this year, and the largest in the history of the world, believe it or not was back in spain in 2011. $939million somebody won over there. martha. martha: wow, well, you know we'd lick to her a good story. if you have a good story about winning the lottery and everything turning out really well, let us know. >> reporter: i would have shared. i would have shared. martha: thank you, adam. we'll see you soon. bill: thank you, adam. if you're watching us right now you probably didn't win. you'd be out answering the phone or having a good party. martha: first thing i would do is watch "america's newsroom" if i won. bill: okay that's it. the odds of winning, space junk falling to earth and hitting one person, one in 3200.
the taxes are this. 35% will go to federal taxes. 4.54% will go to arizona taxes, that is much better than california. and 6% will go to missouri taxes. interesting too a couple other notes for you. one this isn't the largest lottery in u.s. history actually earlier this year the megamillions game was $656 million. three people bought tickets that won that, that was earlier this year, and the largest in the history of the world, believe it or not was back in spain in 2011. $939million somebody...
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let's take a closer look at california's tax rate. the top individual tax rate was 10.3%. the second highest in the nation. due to a new proposition that was just passed that number is going to jump to 13.3% for top earners. perhaps this sentiment seems to be working in the golden state. which also has a corporate tax rate of 8.84%. which is why you don't see companies clamoring to open businesses in the state. pill * a lot of debt. martha: mr. grant from the "mary tyler moore show"? he voiced over that. he lives in france. bill: new concerns the u.s. is running out of doctors at a time when obama-care will put millions of americans into the system. our fox news medical a-team doctor on what needs to happen there. martha: they were trapped under a car struggling to breathe and split second heroics saved theof lives of her mother and child. of pepto-bismol to-go. bp has paid overthe people of bp twenty-threeitment to the gulf. billion dollars to help those affected and to cover cleanup costs. today, the beaches and gulf are open, and many areas are reporting their best tour
let's take a closer look at california's tax rate. the top individual tax rate was 10.3%. the second highest in the nation. due to a new proposition that was just passed that number is going to jump to 13.3% for top earners. perhaps this sentiment seems to be working in the golden state. which also has a corporate tax rate of 8.84%. which is why you don't see companies clamoring to open businesses in the state. pill * a lot of debt. martha: mr. grant from the "mary tyler moore show"?...
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are to preventing such a tax increase. for republicans, it has been about are they offered something that allows them to sell this? for republicans there are a couple of considerations. they don't want to get blamed if everybody's taxes go up. that could be politically problematic. but they can't afford to appear they're rolling over and getting anything they want. they have the house majority. they don't want the base of support to feel they didn't fight anything. because the campaign fund-raising dollars could dry up. everybody in the house faces a primary next year. whether or not they a tough opponent or not is on the table. there are so many considerations. jon: so if these talks fail, and we go over the fiscal cliff, do both sides share in the blame equally? >> i don't think so. i think it is likely that the house republicans and even senate republicans, even though they're in the minority in the senate are going to get more of the blame but it depend on what kind of view you're taking here if you're a republican. i
are to preventing such a tax increase. for republicans, it has been about are they offered something that allows them to sell this? for republicans there are a couple of considerations. they don't want to get blamed if everybody's taxes go up. that could be politically problematic. but they can't afford to appear they're rolling over and getting anything they want. they have the house majority. they don't want the base of support to feel they didn't fight anything. because the campaign...
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bill: so what happens if your taxes or to your taxes if lawmakers don't strike a deal? the tax policy center says that 90% of the americans would see a tax hike next year in 2013. it says 121 million americans will be paying more in payroll taxes, and families making between 40 and $65,000 a year, will pay an extra $2,000 to the government. that starts in 2013. martha: some say that they're concerned that what happens in europe could also happen here down the road. look at europe's economy down the road. 11.7% unemployment. that is another record high in the month of october. breaking that down, it is 18.7 million people out of work across the 17 eu countries that use the euro. spain and greece have the highest jobless rates. 25% is the unemployment rate in spain and greece with youth unemployment levels, look at this, almost 60% in spain and greece. bill: good luck with that, huh? what a future. debate now underway on capitol hill where the house is set to vote on the republican immigration reform bill. if it passes the stem act would get rid of the lottery system and
bill: so what happens if your taxes or to your taxes if lawmakers don't strike a deal? the tax policy center says that 90% of the americans would see a tax hike next year in 2013. it says 121 million americans will be paying more in payroll taxes, and families making between 40 and $65,000 a year, will pay an extra $2,000 to the government. that starts in 2013. martha: some say that they're concerned that what happens in europe could also happen here down the road. look at europe's economy down...
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>> grover norquist, president of americans for tax reform, author of the no-tax-hike pledge, but some people ar -- wants everybody to hold the line, but some people are weakening. i things starting to soften up there? >> tom cole, republican from oklahoma, a very astute politician, was it very honestly and openly a politician before he got elected to congress, and said that we ought to take the deal and cut taxes on 98% of people, basically rid ourselves of the fact that most people other than charles c., that the republicans have become the party of billionaires' and millionaires in this debate. that is what happened in the election of 2012. that really is a continuing problem for republicans. that is what you are seeing to it is not just anti-grover norquist movement. it is a realization that they have a political problem. >> a lot of positive signs for a deal. one is that grover norquist, who is kind of a ridiculous figure, it has been exposed as that and people are walking away. businessmen are in town saying we want predictability, and that is a good sign. but the indication from
>> grover norquist, president of americans for tax reform, author of the no-tax-hike pledge, but some people ar -- wants everybody to hold the line, but some people are weakening. i things starting to soften up there? >> tom cole, republican from oklahoma, a very astute politician, was it very honestly and openly a politician before he got elected to congress, and said that we ought to take the deal and cut taxes on 98% of people, basically rid ourselves of the fact that most people...
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their payroll taxes might. their income taxes are not. and that is huge. and the truth is, from what i'm hearing, the top 2% better start making financial plans. >> there's no question about that. what's wrong with this proposal? >> look, there are parts of this proposals are reasonable. the bigger problem here is, if the president is sticking to this position, at least for the time being that he outlined last week, would be the equivalent of the republicans saying we want the ryan budget, we want marginal tax rates cut across the board 20%. i'll tell you, steve, i think he has dug in, he spent more time on the phone this week from what i understand with steve israel, chairman of the democrat chair than he did with john boehner. tell me what he's telling those hard left groups about his position and how he can walk back to something more reasonable like something that tom's for. given what he's saying with these hard left groups. >> he's trying to do something different than he's done before. which is take his message outside the beltway, outside of capito
their payroll taxes might. their income taxes are not. and that is huge. and the truth is, from what i'm hearing, the top 2% better start making financial plans. >> there's no question about that. what's wrong with this proposal? >> look, there are parts of this proposals are reasonable. the bigger problem here is, if the president is sticking to this position, at least for the time being that he outlined last week, would be the equivalent of the republicans saying we want the ryan...
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because it was something to do with changing from a paper tax form to an electronic tax form. >> jimmy: just out of curiosity, how often do you e-mail your mom? >> i guess pretty regularly, if i need advice or help with something. >> jimmy: by advice or help, you mean money? i understand you're pretty popular now. have you gotten any dates or anything out of this? >> ah -- not yet, a couple parties are being thrown in my honor. >> jimmy: oh, that's nice. acapella concert is being named after me. >> jimmy: wow. what's your major at nyu. i hope it's not communications. >> business and finance with a minor in computer science. >> jimmy: oh, really? [ laughter ] well, you probably haven't gotten to the computer science 401, which is, deals with reply all. does everyone have your mom's e-mail address as a result of this? >> i don't think so, only because it didn't really forward to her, it was more i just hit the wrong button. >> jimmy: i got you. maybe you should stick to writing letters for awhile, the old fashioned way. thank you for talking to us, max. have fun at the party. who is sche
because it was something to do with changing from a paper tax form to an electronic tax form. >> jimmy: just out of curiosity, how often do you e-mail your mom? >> i guess pretty regularly, if i need advice or help with something. >> jimmy: by advice or help, you mean money? i understand you're pretty popular now. have you gotten any dates or anything out of this? >> ah -- not yet, a couple parties are being thrown in my honor. >> jimmy: oh, that's nice. acapella...
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if no action is taken by december 31, $650 billion in cuts to pentagon and domestic programs and tax increases will automaticly go into effect. republicans are complaining. democrats are not playing fair. >> democrats have yet to get serious about real spending cuts. secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. >> carolyn: joe biden went christmas shopping in the capitol at a discount store. he strolled into costco and buying apple pie. he told reporters falling o-cliff klif is not an option. >> look around here. consumer confidence is growing. last thing we need to do is dash that now by being unable to extend middle-class tax cuts. >> carolyn: costco is hedging. they announced they will pay $3 billion dividend before the end of the year. that will save share hold ears lot of money. >> 138 countries voted to grant they voted against the measure which could make it easier for palestinian authority to pursue israel in international court. mahmoud ahmadinejad addressed the. >> mahmoud abb
if no action is taken by december 31, $650 billion in cuts to pentagon and domestic programs and tax increases will automaticly go into effect. republicans are complaining. democrats are not playing fair. >> democrats have yet to get serious about real spending cuts. secondly, no substantive progress has been made in the talks between the white house and the house over the last two weeks. this is not a game. >> carolyn: joe biden went christmas shopping in the capitol at a discount...
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each of you taking home 60 cents before taxes. and that helps. what was the plan if you hit it big, how many would come back to work? how many of you would we have seen tomorrow night if you had won? >> i would not have been here. no way. >> no one stays on? >> i would be sleeping at this time. >> like normal people. exactly. very nice. what was the craziest thing you would have done with the money, the fun thing? your craziest thing? >> would have paid $40 to get it both ways. out in vegas. >> oh, no. >> oh, no. >>> welcome to "the mix," everybody. you know, it is the holiday season. everybody is worried what can you get me. it is nice to see stories of -- of true philanthropy, and people thinking outside of themselves. want to show you the photo kind of gone viral. it's of a new york police officer putting some boots on a homeless man right outside of times square. this officer, lawrence diprimo, had no idea a tourist from arizona was taking this photo. she posted it on the new york police department's official facebook page, late on tuesday. b
each of you taking home 60 cents before taxes. and that helps. what was the plan if you hit it big, how many would come back to work? how many of you would we have seen tomorrow night if you had won? >> i would not have been here. no way. >> no one stays on? >> i would be sleeping at this time. >> like normal people. exactly. very nice. what was the craziest thing you would have done with the money, the fun thing? your craziest thing? >> would have paid $40 to get...
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the proposal consisted of $1.6 trillion in higher taxes, they also wanted 50 billion for infrastructure. the president in return approved spending cuts this year and legislation for saving up to $400 million for programs like medicare over a decade. >>> former rivals president obama and governor romney spoke in private. and what they said remains in private. the white house did release a photo and reported that they had white turkey chili and south western chicken salad. when romney arrived, a man ran up to him and said something. secret service quickly ran up to him. >>> imagine running the equivalent of a marathon a day. patty lee shows us what inspired a 25-year-old san francisco woman to spend the past five months making this cross country journey. >>> it took four months, 3,200 miles and 12 pairs of running shoes to get here: but this morning kelsie harrison ran to and through marin county. she started the run in july in new york city. >> the run is in honor of my friend who passed away with lung cancer right after we graduated. >> reporter: costelo was diagnosed with lung cancer.
the proposal consisted of $1.6 trillion in higher taxes, they also wanted 50 billion for infrastructure. the president in return approved spending cuts this year and legislation for saving up to $400 million for programs like medicare over a decade. >>> former rivals president obama and governor romney spoke in private. and what they said remains in private. the white house did release a photo and reported that they had white turkey chili and south western chicken salad. when romney...
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. >> reporter: democrats, still lifted by their election success, argued that voters chose higher tax rates for wealthy americans as part of any plan to cut the deficit. and say republicans will have to give in. >> did speaker john boehner get the message? because the message was work together. >> they're not going to openly concede on this point this far out from the deadline, but they see the handwriting on the wall. >> reporter: late today, gop sources said that they have some details about the proposal brought here from tim geithner. they say the white house is offering $1.6 trillion in tax increases over ten years, 400 billion in cuts coming later. and no new proposals dealing with entitlement reform. republicans say for them, a nonstarter. >> kelly o'donnell, another cold night on capitol hill. thank you. >>> and as this debate goes on, a memorial service in washington today for a long-time budget-cutting warrior, former senator warren rudman, and david suitor was among them, and former senator and white house chief of staff, howard baker, a republican from new hampshire who aut
. >> reporter: democrats, still lifted by their election success, argued that voters chose higher tax rates for wealthy americans as part of any plan to cut the deficit. and say republicans will have to give in. >> did speaker john boehner get the message? because the message was work together. >> they're not going to openly concede on this point this far out from the deadline, but they see the handwriting on the wall. >> reporter: late today, gop sources said that they...
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the white house feels the president is in a very strong position to play the high cards in terms of tax increases, that's what he wants, that's what the american people said they wanted. look at the exit poll, the president feels that confidence. on the other side, the president feels they have room to push hard against tax increases being too large. we are a long way from a final deal, and it is dangerous and necessary as both sides try to get numbers closer to what their folks will accept. >> david, meanwhile while this is going on, the president is hosting mitt romney for lunch at the white house, first time they have seen each other since the last presidential debate. can you give us any insight beyond they had turkey chili for lunch what went on in that room? >> i was up here in boston, spoke to some romney advisers who described it as a good meeting, important meeting for both sides to do. this is an awkward looking photo. it is still very tough. the feelings if you're on the romney side of the campaign are still pretty raw. one of the things i was told romney made clear is that h
the white house feels the president is in a very strong position to play the high cards in terms of tax increases, that's what he wants, that's what the american people said they wanted. look at the exit poll, the president feels that confidence. on the other side, the president feels they have room to push hard against tax increases being too large. we are a long way from a final deal, and it is dangerous and necessary as both sides try to get numbers closer to what their folks will accept....
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making less than $250,000, but let taxes go up for everyone else. he's taking that message on the road friday to pennsylvania. not to be outdone on the pr front, house republicans hosted a group of nervous business leaders who have signed on to a campaign called "fix the debt" who want spending cuts to supplement the tax hikes. >> we put revenue on the table as long as it's accompanied by serious spending cuts to avert this crisis. >> reporter: and as the president gets set to change up his cabinet, he took time out of wednesday's cabinet meeting to defend the woman who could be his next secretary of state. >> susan rice is extraordinary. couldn't be prouder of the job that she's done. >> reporter: following that vote of confidence for rice, the outgoing secretary of state., hillary clinton, also spoke out. >> susan rice has done a great job as our ambassador to the united nations. >> reporter: still, rice had to spend another day on capitol hill discussing benghazi with skeptical senate republicans. >> and realize that all of us here hold the secre
making less than $250,000, but let taxes go up for everyone else. he's taking that message on the road friday to pennsylvania. not to be outdone on the pr front, house republicans hosted a group of nervous business leaders who have signed on to a campaign called "fix the debt" who want spending cuts to supplement the tax hikes. >> we put revenue on the table as long as it's accompanied by serious spending cuts to avert this crisis. >> reporter: and as the president gets...
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it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both sides say it's time to get serious. governors from six states are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter: republicans have given a counterproposal to the president's plan which he issued last week. they say
it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both...